Quarterly report pursuant to Section 13 or 15(d)

Note 3 - Property and Equipment

v3.23.1
Note 3 - Property and Equipment
6 Months Ended
Mar. 31, 2023
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]

3. PROPERTY AND EQUIPMENT

 

At March 31, 2023 and September 30, 2022, property and equipment consisted of:

 

   

Estimated

                 
   

Useful Life

(in years)

    March 31,
2023
   

September 30,

2022

 
                         

Furniture and fixtures

    5     $ 9,357     $ 9,357  

Leasehold improvements

  Life of Lease       8,983       8,983  

Computer equipment

    3       14,416       14,416  

Lab equipment

    5       1,000       1,000  
              33,756       33,756  

Less – accumulated depreciation

            32,755       31,712  

Property and equipment, net

          $ 1,001     $ 2,044  

 

For the three months ended March 31, 2023 and 2022, depreciation expense recorded was $380 and $799, respectively. For the six months ended March 31, 2023 and 2022, depreciation expense recorded was $1,043 and $1,598, respectively.